If you were rooting for the Chevrolet Bolt – the 200-mile EV concept unveiled at the 2015 Detroit Auto Show – we have some bad news: already the car has a threatening contender for the budget EV throne.
When Tesla Motors originally announced the Model 3 sedan, meant as a half-price alternative to the Model S, the electric automaker touted a projected MSRP of $35,000. But more recently, CEO Elon Musk took to the Automotive News World Congress stage on Tuesday to shut down any loose room for interpretation. He clarified that $35,000 will be the sedan’s cost before government incentives.
Conversely, the Chevrolet Bolt – anticipated to be production-bound by 2017 – is advertising a projected MSRP of $30,000 after incentives. This means that just accounting for the Federal credit of $7,500 for purchasing an electric vehicle, the Tesla Model 3 would come in at around $27,500 – or $2,500 less than the Chevrolet Bolt. With that, you’d presumably receive better luxury, range, and likely even improved aero over the Bolt.
Granted, it’s not too late for Chevrolet to work out a solution for reducing the Bolt’s cost even further; just between the marque’s first- and second-generation Volt EVs, production costs have been reduced by a reported $10,000. But Tesla Motors also has the advantage of its imminent Gigafactory battery production facilities.
Clearly, the folks at GM have their work cut out for them.
Comments
Well lets first see if Musk can get the X model out first as it is already very late. Then we will see if the 3 model even shows up by 2017.
His stock prices have been active not in a good way since sales in China are not what he had promised.
Tesla has done well but they still have a lot to do before they can say they are stable. with the competition all coming from all the major makers he will have a much tougher time with each new models. No more free plants will be coming like he got in Fremont.
Aaron Birch typed “Clearly, the folks at GM have their work cut out for them.”
—-
I’d say Tesla is the one that has their work cut out. GM had an almost production ready Bolt at the auto show. Tooling has already been ordered. Tesla has yet to draw a line on a piece of paper for the Model 3. They still don’t know if they want a radical design, or something similar to the more bland Model S.